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Crude rebounds on OPEC comments

Published 04/20/2017, 05:17 AM
© Reuters.  Crude rebounds on OPEC comments
SCO
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UCO
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  • Oil fell by around 4%, or $2 per barrel, in Wednesday's trade - its worst day in six weeks - but prices are bouncing back today. Crude futures +1% to $50.92.
  • Comments by OPEC members, including oil ministers from Kuwait and Saudi Arabia, about extending a production cut are helping, but concerns about oversupply and increased shale production continue to weigh on prices.
  • Crude futures roll to the June contract following today's close.
  • Previously: Oil tumbles more than 4% (Apr. 19 2017)
  • ETFs: USO, OIL, UCO, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM, DWT, OILK, OILX, UWT, WTID, WTIU
  • Now read: Oil Prices Tank, OPEC Cuts - A 'Paper Tiger'


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